How to Trade This Market: Quickly

Options traders are profiting from the momentum by purchasing short-dated weekly calls that just keep going up.

That about sums up the hot trading strategy in the options market as stocks keeps advancing to records. There's a spreading sense that stock prices will keep rising simply because investors are increasingly realizing there is no place else to put their money. (See The Striking Price, "Indulge Your Appetite for Stocks," May 13.)